Adtran shares fell after the company said a project delay from one customer weighed on its preliminary results for the second quarter.

The stock slid 14% to $10.40 in pre-market trading Wednesday. Through Tuesday's close it was up 40% this year.

"Our preliminary second quarter results were directly impacted by a project delay from a single customer," Chief Executive Tom Stanton said.

The telecommunications company said it expected revenue in the second quarter to be $280 million to $282 million, which would be below the $293.4 million analysts are expecting, according to FactSet.

Adjusted earnings per share are expected to be 3 cents to 5 cents, compared with Wall Street's estimate of 13 cents.

Stanton said costs for components and freight have also increased, weighing on margins.

Adtran also shared guidance for the third quarter, where it projects $275 million to $295 million in sales. Analysts were forecasting $300.3 million in sales.

"While these factors are affecting our near-term financial results, they do not change the underlying business," Stanton said.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

July 22, 2026 06:56 ET (10:56 GMT)

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